Each submission must be made on an individual basis. Combined or consolidated reports will not be accepted.

Transcription

1 Florida Office of Insurance Regulation Catastrophe Reporting Form Simplified Version of Catastrophic Event Data Reporting and Analysis Form (CEDRA), OIR-DO-1681 If you have any questions during your submission process, please contact Overview Section , FS, establishes the authority of the Office of Insurance Regulation (Office) to collect, propose, publish, and disseminate information relating to the subject matter of any duties imposed upon it by law. When an Emergency Order is issued by the Office, disaster reporting is to be made on this Catastrophe Reporting Form. The Order will specify the dates of reporting, including the reporting period(s) and deadline(s), and the frequency of such reporting, until the conclusion of the data collection; the Catastrophe Reporting Form will be used at each reporting interval for the disaster event named in the Order. At the end of the data collection it is possible that the Office will require that the CEDRA Form (OIR-DO-1681) be filed once as a closing report for all claims activity as a result of the storm. Both the Catastrophe Reporting Form and CEDRA are available and filed through the Office s Insurance Regulation Filing System (IRFS) located at If you do not have an IRFS account you may create or use an existing iportal or DCAM account. Once logged in you must subscribe to your company under Entity Management (found by clicking on the gear icon on the top right) then select Create Filing under the tools icon (to the left of the gear icon) to begin the filing process. See page 6 of this document for learning the correct way to submit a trade secret filing. Each submission must be made on an individual basis. Combined or consolidated reports will not be accepted. Required Filers and General Reporting Definitions All entities writing direct premiums in Florida and authorized, approved or otherwise eligible to provide the coverages indicated below are required to submit the following data as instructed by the Office s Emergency Order(s) associated with a disaster event: 1. Homeowners 2. Dwelling 3. Mobile Homeowners 4. Commercial Residential 5. Commercial 6. Private Flood 7. Business Interruption 8. Other Lines of Business, to be specified The Office may perform a reasonability validation of the residential reporting collected with this form and the data submitted by your company in the Commercial and Personal Residential Property Supplemental Quarterly Report (QUASR) system as defined in Section (10), FS, and Rule 69O , F.A.C. For the purposes of this reporting, the following definitions, as provided in Section (2), FS, are to be used. (a) "Hurricane Coverage" is coverage for loss or damage caused by the peril of windstorm during a hurricane. The term includes ensuing damage to the interior of a building, or to property inside a building, caused by rain, snow, sleet, hail, sand, or dust if the direct force of the windstorm first damages the building, causing an opening through which rain, snow, sleet, hail, sand, or dust enters and causes damage. (b) "Windstorm" for purposes of paragraph (a) means wind, wind gusts, hail, rain, tornadoes, or cyclones caused by or resulting from a hurricane which results in direct physical loss or damage to property. (c) "Hurricane" for purposes of paragraphs (a) and (b) means a storm system that has been declared to be a hurricane by the National Hurricane Center of the National Weather Service. The duration of the hurricane includes the time period, in Florida: 1. Beginning at the time a hurricane watch or hurricane warning is issued for any part of Florida by the National Hurricane Center of the National Weather Service; 2. Continuing for the time period during which the hurricane conditions exist anywhere in Florida; and 3. Ending 72 hours following the termination of the last hurricane watch or hurricane warning issued for any part of Florida by the National Hurricane Center of the National Weather Service. Catastrophe Reporting Form, (rev. 09/2017) Page 1 of 8

2 Required Data Elements All numeric values are to be whole numbers unless otherwise indicated on the reporting form. When required by Emergency Order, the Catastrophe Reporting Form will be available within the DCAM filing system. Data filing means reporting entity has received property claims from the DISASTER EVENT. data filing means the reporting entity has no property exposure in Florida, or, the reporting entity has property exposure in Florida but has received no property claims as a result of the DISASTER EVENT. The Contacts tab (Section A) is the first tab to appear after the Version (front) tab in the Catastrophe Reporting Form template. Section A: Contact and Statewide Modeling Information THIS IS REQUIRED INFORMATION that is to be provided each time the Catastrophe Reporting Form is submitted to the Office of Insurance Regulation. If you need additional information write to DisasterReporting@floir.com. Contact and General Questions HURRICANE ALPHA Responses - Verify pre-populated cells are accurate before submission VALIDATION CHECKS Required Data Field Complete? TRADE SECRET? What is the as-of date of the data submitted? (MM/DD/YYYY) FALSE t Applicable Please provide the name of the individual who completed this form. FALSE t Applicable What is this individual's address? FALSE t Applicable What is the best number where this individual can be reached? FALSE t Applicable What is the Company's name? FALSE t Applicable What is the Company's NAIC Code? ("00000" if no NAIC Code exists) FALSE t Applicable What is the Florida Company Code? FALSE t Applicable What is the Company's FEIN? FALSE t Applicable What is the Company's NAIC group code? ("0000" if no NAIC group code exists) FALSE t Applicable What is the State of domicile? FALSE t Applicable First report only - Attach model output for the company's book of business for this event. Dollar Amount of Estimated Gross Payable Loss from Event (Gross of Reinsurance). This includes any anticipated claim expense or cost incurred by the direct insurer during the processing of the claim (Loss Adjustment Expense). Include all property lines of business. (in whole dollars) Projected Net Retention Resulting from the Event - Include all property lines of business. If necessary, estimate projected net retention based on your reinsurance chart. The Office realizes this number may change in future reports as actual claims are reported, paid and settled with the reinsurers. (in whole dollars) Dollar Amount of Estimated Gross Payable Loss from Event covered by Reinsurance or Other Loss-Transfer Agreements. (in whole dollars). Name and Version of Model Used for Financial Projections. (Maximum of 250 characters) FALSE The disaster event name, as shown in the Order, will appear at the top of this page; FALSE validations to the right will appear TRUE when valid data is entered in the Responses (by row). FALSE FALSE FALSE As Set Catastrophe Reporting Form, (rev. 09/2017) Page 2 of 8

3 The Summary tab (Section B) is the next tab in the template. Florida Statewide Totals are displayed based on values entered in the County entries (by Line) of the remaining tabs. Two columns of this summary table allow statewide reporting by Line rather than at the County level (Paid Allocated Loss Adjustment Expense and Case Incurred Loss). Only the cells highlighted in yellow are required to be completed in Section B, at which time the FALSE validation messaging will appear as TRUE. Within Section B this table will appear twice: first, Section B1 appears as the Florida Statewide Totals for the immediate report being submitted. This table requires data entry as explained above. Second, Section B2 appears as the Florida Statewide Totals as last reported. Each time a new report is created, DCAM has the ability to include all totals as they appeared in the immediate preceding report below the Section B1 table. The sample disaster event name, Hurricane Alpha, and report dates appear in the heading area of both tables. Event names will not be mixed within templates but report dates will always show the current and immediate past reporting date. Beneath Section B1 there is a box that allows users to mark the page trade secret. This convention is addressed on Page 6 of this document. Catastrophe Reporting Form, (rev. 09/2017) Page 3 of 8

4 Section C Begins with a Data Definitions tab as shown on these next two pages. Additional information is shown on the third page. Section C - Insurance Types (Appearance by Tab) For every "Claims and Payment by County of Occurrence," the submitter is to provide the following information for each county where claims were received for the reporting EVENT as described below: As this template may be applied to disaster reporting, "EVENT" means a storm system that has been declared by the National Hurricane Center of the National Weather Service. The duration of the "reporting event" includes the time period, in Florida: a. Beginning at the time a storm watch or storm warning is issued for any part of Florida by the National Hurricane Center of the National Weather Service; b. Continuing for the time period during which the storm conditions exist anywhere in Florida; and c. Ending 72 hours following the termination of the last storm watch or storm warning issued for any part of Florida by the National Hurricane Center of the National Weather Service. Definitions used throughout Section C: All Other Lines of Business: Includes all property lines of business, including auto, but excluding workers' compensation, professional liability, mortgage/financial guaranty, fidelity, and property/casualty claims. Business Interruption, by Florida County: Includes losses under a commercial policy for loss of income, operating expenses, and extra expenses while a business is restoring operations. Case Incurred Loss (in whole dollars): Indemnity case reserves and payments to date. Estimates of Incurred but not reported (IBNR) should not be included. Commercial Claims Received, by Florida County: Coverages sold to commercial owners which is not Commercial Residential. rmally reported on lines 1 - Fire; 2 - Allied Lines; Commercial Multi-Peril (non-liability portion) or Commercial Multi-Peril (liability portion) on the NAIC Annual Statement Exhibit of Premiums and Losses (State Page). Commercial Residential Claims Received, by Florida County: Commercial residential insurance purchased by commercial entities for apartment buildings, condominium associations and homeowners associations. rmally reported on lines 1 - Fire; 2 - Allied Lines; Commercial Multi-Peril (non-liability portion) or Commercial Multi-Peril (liability portion) on the NAIC Annual Statement Exhibit of Premiums and Losses (State Page). Dwelling Claims Received, by Florida County: Coverages sold to property owners or tenants occupying a described property that is used exclusively for residential purposes. Generally reported on line 1 - Fire on the NAIC Annual Statement Exhibit of Premiums and Losses (State Page). Catastrophe Reporting Form, (rev. 09/2017) Page 4 of 8

5 Catastrophe Reporting Form, (rev. 09/2017) Page 5 of 8

6 Data Validations Two validations are used in the Section C tabs of this data template: Row Validation Check #1: " Closed with Payments" " Closed without Payments" + " of Open Claims" " Reported" Row Validation Check #2: If the " Reported" = 0, then "Paid Loss" must also = 0. Submitting a "Trade Secret" Filing Trade secret filings may be completed in accordance with Sec , F.S. This is done in Sections A and C either by Changing a row marker from "" to "Yes" (note you can set entire columns of row markers from "As Set" to "All Yes" at the top) Or, for the Section B1 Summary tab, using the trade secret window option by clicking on the down-arrow that appears when the box is selected, then choosing Trade Secret Information on this Page." To qualify for trade secret protection, the filer must additionally file a properly-executed trade secret affidavit in the appropriate filing component designed for this purpose. If You Need Assistance... If you have any questions or need assistance in filing, please contact Market Data Collections at or via DisasterReporting@floir.com The lower portion of the Section C Data Definitions explains the validations, trade secret procedures, and how to receive filing assistance. Section C includes two basic validations (as shown above) to cause FALSE validations to become TRUE. The trade secret option is available on all Section C tabs but must be properly executed in accordance with Sec , F.S. The Market Data Collections Section of the Office handles all data collection related queries by phone call and . If you have a need to contact the Office, be sure to state that call is in reference to the Catastrophe Reporting Form data collection. The remainder of Section C presents identical tabs collecting Claim counts reported, closed (with and without payment), opened, Paid Loss, and Claim counts with Assignment of Benefits. Only one such tab (for Homeowners) is shown on the next page, however there are eight such tabs in the Catastrophe Reporting Form corresponding to the list shown on the first page of these instructions. Catastrophe Reporting Form, (rev. 09/2017) Page 6 of 8

7 Section C: Homeowners Claims and Payments by County of Occurrence Please distribute your claims data in appropriate rows below. HURRICANE ALPHA County of Occurrence Reported Closed with Payments of Claims Closed Without Payments of Open Claims Paid Loss (in Whole Dollars) of Claims with Assignment of Benefits Validation Checks Error Messages ALACHUA TRUE BAKER TRUE TRADE SECRET? BAY TRUE BRADFORD TRUE BREVARD TRUE BROWARD TRUE CALHOUN TRUE CHARLOTTE TRUE CITRUS TRUE CLAY TRUE (Middle portion removed to allow a one page view) WALTON TRUE WASHINGTON TRUE County of Occurrence Unknown at Time of Reporting Statewide Total (Auto-Calculated) TRUE $0 0 TRUE The disaster event name and trade secret box appear at either side at the top; after 67 county lines an Unknown at Time of Reporting line occurs before the Statewide Totals. Users cannot enter in the Statewide Totals cells. As Set Catastrophe Reporting Form, (rev. 09/2017) Page 7 of 8

8 More on Validations Validations were defined two pages prior. As the template is used, when claims counts or Paid Loss are entered into Section C of the template, validations immediately determine whether the numbers being entered are reasonable (given what is known). Error messages that may appear are shown in the example below. For Indian River County the total number of claims closed (with and without payment) plus opened does not equal the total number of claims reported. (It is not shown below but the six numeric columns are assigned letters J through O.) In the next line (Jackson County) no corresponding claims have yet been entered for the Paid Loss shown triggering a validation error. Section C: Homeowners Claims and Payments by County of Occurrence Please distribute your claims data in appropriate rows below. HURRICANE ALPHA County of Occurrence Reported Closed with Payments Closed Without Payments of Open Claims Paid Loss (in Whole Dollars) of Claims with Assignment of Benefits Validation Checks Error Messages TRADE SECRET? As Set HILLSBOROUGH TRUE HOLMES TRUE INDIAN RIVER $200,000 FALSE JACKSON $45,000 FALSE K+L+M must equal J Must have claims to have payments JEFFERSON TRUE LAFAYETTE TRUE Additional information and statutory citations regarding disaster reporting can be found in the CEDRA instructions. Questions about anything in this document may be referred to Market Data Collections at , or by at DisasterReporting@floir.com. Catastrophe Reporting Form, (rev. 09/2017) Page 8 of 8